We were posted earlier 2days back that Nifty seems following the Elliot Wave. The last leg of Impulsive rally upto E is done. And today's candle is a Spinning Top. It seems not good days ahead ... 16200 in card for July Expiry? If Eliot Wave is something to go with. The collective phase upto point-A.
Although there is a clear breakout yesterday (Monday) in this counter (and it came to our weekly radar as Long), today daily it's created a Bearish Tweezer top candlestick pattern.
I am seeing this in the NSE:NIFTY cash Daily timeframe. Are you guys seeing the same? Or I am hallucinating (at 10:30 PM night J ) Observations : 3 rounding bottoms formed in an uptrend. There is a clear ascending triangle Now the interesting part is: if we take 20th June as the starting of the wave, then it is aligning perfectly to A, B, C, D...
- Cup and Handle pattern - 646 is testing 4 times - Alligator is clear uptrend, started eating out - Volume Spike
- Cup and Handle Pattern - good volume - Current daily closing is testing the 2450 : 4 times. - Clear Uptreand - Alligator is started eating.
W pattern, then retest, alligator up, volume is above vol-sma, long buildup (in conjecture with price up).
Buy BataIndia. 1. Inverted head-and-shoulder (not classical, somewhat) 2. 3 times hit the 1817 level. 3. Ascending Triangle formation 4. William's Alligator wakes up -- ready to eat! 5. Both volumes and COI goes healthy upwards. 6. Price 50 DMA is crossing over 200 DMA (50 and 20 DMA are in 1796. 100 DMA is in 1802).